Streetbeat News

SYM

Symbotic Inc.

https://www.symbotic.com

Industry

Shell Companies

Symbotic Inc., an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. It offers The Symbotic System, a full-service warehouse automation system that reduces costs, improves efficiency, and maximizes inventory. The company is based in Wilmington, Massachusetts.

Open

21.50

Mkt cap

13B

Volume

1.5M

High

21.85

P/E Ratio

-154.64

52-wk high

50.41

Low

21.15

Div yield

N/A

52-wk low

17.11

Baird analyst Robert Mason maintains an Outperform rating on Symbotic (SYM) and raises the price target from $52 to $53.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 10:52 am

Symbotic Inc. (NASDAQ:SYM) reported Q2 financial results with losses of 7 cents per share, missing estimates by 40%, but surpassed sales expectations with $424.301 million, a 59% increase year-over-year. Cash reserves grew to $951 million. The company anticipates Q3 revenue between $450 million and $470 million, with adjusted EBITDA of $27 million to $29 million. SYM shares rose 10.04% after-hours.

Portfolio Pulse from Erica Kollmann

May 06, 2024 | 8:50 pm

Symbotic reported its Q3 revenue forecast to be between $450M-$450M, slightly above the estimated $447.58M by analysts.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:37 pm

Symbotic's stock price increased following the announcement of mixed financial results for the second quarter. The company, trading under the symbol SYM, experienced a positive market reaction despite the mixed outcomes in its quarterly financial performance.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:07 pm

Symbotic reported Q2 2024 earnings with a GAAP EPS of $(0.07), missing the $(0.05) estimate, and sales of $424.301M, beating the $412.903M estimate. This represents a 250% decrease in EPS and a 59% increase in sales year-over-year.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:01 pm

Shares of companies in the materials sector are down due to overall market weakness, affecting a broad range of companies.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 7:52 pm

Northland Capital Markets analyst Michael Latimore maintains an Outperform rating on Symbotic (SYM) and raises the price target from $55 to $60.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 5:12 pm

Today's session highlighted significant options activity for industrials stocks, with notable trades for BA, LYFT, NKLA, ERJ, UPS, VRT, UAL, GE, SYM, and UBER. The activity ranged from bullish to bearish sentiments, involving both call and put options with varying expiration dates and strike prices. This options activity could indicate market expectations and potential trading opportunities based on the sentiments expressed through these large transactions.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 5:35 pm

Symbotic Inc. (NASDAQ:SYM) announced the pricing of its public offering of 10 million shares of Class A common stock at $40.50/share. The offering is split equally between the company and certain trusts and entities controlled by Richard Cohen, its founder, chairman, and CEO. Additionally, a 30-day option for underwriters to purchase up to 1.5 million additional shares at the offering price, less discounts and commissions, has been granted.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 7:25 am

Symbotic's stock price is trading lower following the announcement of a primary and secondary offering of its Class A common stock. This move typically dilutes existing shareholders' value and can lead to a decrease in stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:08 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.